Is Your Teen's Spending Out of Control? How to Bring Your Teen Back to Reality

Iin our fast paced society, our children do not really seem to grasp the value of money. Placing things mindlessly in the shopping cart at the grocery store. Adding unnecessary items at the pharmacy. Assuming that mom and dad will always be there to buy them whatever they desire. There are a few easy things that you can do to help your teen value money.

Cell Phone minutes

Overextended cell phone family plans can eat away bit by bit into the family budget. Write down the codes for checking how many more text messages you can receive on your calling plan. Also the number of daytimes minutes that are left. Teens of all ages should be able to manage their phone time. If you have no idea about these codes, call the customer service phone number for your cell phone provider, or visit their website.

Credit/Debit Card

Does your child have access to your credit or debit card? Do they spend exactly what they are told to, or do they buy everything top of the line, without regards to cost. Yes, you may be able to afford the best for your child, however they are not thinking that. Mindless shopping will hurt them at some point financially in their life. They need to be able to comparison shop. What if Macy's has the same items at 40 percent off? What if Dillard's has a great coupon in the Sunday paper? Or show them how to look online for coupon codes at websites. //www.couponcabin.com

Food

Everyone has to eat. Establish a set dollar amount for food every week. Include enough for all meals. Do not forget about social eating on the weekends, and for daily school lunches. Let your teen manage that money. Do not give in, and give them more on Wednesday, because they spent too much at Starbuck's. Introduce the idea of, bringing their lunch to school, instead of purchasing it everyday. If they are in high school, and eat off campus introduce them to the world of fast food coupons. Show them how to sign up for their favorite restaurants newsletter to receive coupons and free offers regularly. http://app.mcdonalds.com/subscribe/subscribe.jsp This is a great link where you teen can sign up to receive offers for free McDonald's and money saving coupons.

Teenagers in our society are faced with so many challenges. Teaching the value of how to manage money, and not increase their spending above their means is a great skill. You as a parent can be confident that they fully understand how to budget for basic purchases. Showing them how to successfully manage credit purchases and cash is setting them up to use credit responsibly. Many teenagers do not learn this until college is over, and the purse strings are cut.